- BlackEarth Minerals (BEM) has ended the week in a trading halt ahead of a capital raise
- At this stage, it is unknown how much the company aims to raise and what it will use the funds for
- Company shares will be paused until Monday, October 5, or when BEM releases more information on the capital raise
- BlackEarth is a Perth-based mineral explorer aiming to fast-track development of its Maniry graphite project in Southern Madagascar
- The company last traded for 6.5 cents per share on September 30
BlackEarth Minerals (BEM) has ended the week in a trading halt ahead of a capital raise.
At this stage, it is unknown how much the company aims to raise and what it will use the funds for.
Shares will be paused until Monday, October 5, or when an announcement on the capital raise is released to the market.
BlackEarth is a Perth-based mineral explorer aiming to fast-track development of its Maniry graphite project in Southern Madagascar.
Maniry covers around 143 square kilometres and is connected to regional town, Ampanihy, by 40 kilometres of secondary dirt roads.
The company also holds the Ianapera project, which is 60 kilometres north of Maniry and covers approximately 31 square kilometres.
BlackEarth recently lost its Company Secretary, Simon Storm, who served in the role since March 2019. The current Chief Financial Officer, David Round, has taken on this role.
Company shares last traded for 6.5 cents per share on September 30.